Steelpaint Secures Landmark Cathodic Protection Contract with Chinese Shipowner

Published: 03 Dec 2024

Author: Precedence Research

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Steelpaint makes headlines with a contract on corrosion protection signed with Xiamen Minhua Shipping. This is an important newbuilding specification for Steelpaint, being its first for a Chinese shipowner. Steelpaint's advanced cathodic protection system - Stelpant-PU-Zinc-has been specified in the specifications on three new ones in the multi-purpose cargo ship fleet for this contract.

The Stelpant-PU-Zinc primer test is being conducted by a Chinese bulk carrier operator on a cargo hold and ship hull. The success of the primer in these trials may generate further interest in terms of reliability and economy from shipowners on corrosion protection solutions, indicating potential for growth.

The contract is likely to produce high savings in maintenance costs due to the use of a fast-drying, easy-apply primer. It is a landmark contract for Steelpaint in China, reflecting its increasing strength in the global coatings industry, particularly in Asia. The company is on the cusp of further expansion.

Cathodic Protection Market Size and Growth 2024 to 2033

The global cathodic protection market size accounted for USD 5.28 billion in 2024 and is anticipated to reach around USD 9.47 billion by 2033, growing at a CAGR of 6.57% during the forecast period from 2024 to 2033.

 Cathodic Protection Market Companies

• Aegion Corporation
• BAC Corrosion Control Ltd
• Cathodic Protection Co Ltd
• CMP Europe
• Farwest Corrosion Control Company
• Imenco AS
• James Fisher
• MATCOR, Inc
• Nakabohtec Corrosion Protecting Co
• The Nippon Corrosion Engineering Co

Key Features of Stelpant-PU-Zinc Primer

• Offers corrosion protection to different areas of the vessel for a lifetime.
• It is of polyurethanes, zinc-based primers for impact and corrosion protection, enabling it to meet environmental conditions of -5 to 50°C and very high relative humidity.
• Applicable for Film Thickness: 2 x 80μm for tank tops and lower stools/hoppers, one base coat followed by 120μm conventional topcoat epoxy.

Benefits of Stelpant-PU-Zinc

• Increases impact protection against damage in cargo holds.
• Expected to reduce up to 50% of through-life costs for coating repairs and maintenance.
• Reliable cathodic protection for outer hull.
• Employed for smart repairs during dry-docking because of ease of recoating.4. Significance of the Deal

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